Commercial Real Estate & Business News November 15, 2019

LivCor Pays $43M for Phoenix Asset In a $43 million deal, the P.B. Bell Cos. has sold Solis at Towne Center, a 240-unit Class A community near Phoenix, according to Yardi Matrix. LivCor, the buyer, assumed the outstanding balance of a $20.2 million loan from Allstate taken by the seller in 2016. The mortgage matures in August 2026. Located at 17600 N. 79th Ave. in Glendale,…»
Demand for Small Industrial Buildings in Phoenix Outpaces Supply, Drives up Rent
Light industrial buildings – those smaller than 120,000 square feet – have outperformed larger industrial buildings in metro Phoenix during the past five years. However, construction of light industrial facilities makes up only 16.5% of overall industrial construction in the Valley. As e-commerce grows and the Valley expands,…»
The Future of Multifamily Amenities
Renter preferences in the U.S. may be shifting toward tech-centric amenities like video doorbells and smart locks, but longstanding, traditional features are still just as important as ever.  In one of the largest surveys undertaken in the multifamily industry, 373,000 renters across the country responded to the 2019 Renter Preferences…»
Zillow: A Quarter of Renters Feel Stressed
As rents continue to steadily rise across the U.S., about a quarter of renters say affording their rent payments is difficult or very difficult. To make ends meet, two-thirds of those renters make at least one financial sacrifice to afford their home, and half wouldn’t be able to afford an unexpected $1,000 expense, according to the…»
McKinney, Texas and These Two Dozen Cities Have Seen Major Growth in the Past 20 Years
The U.S. population has grown significantly since 2000, from 281.4 million to just over 321 million, a 39.6 million increase, according to the U.S. Census Bureau’s American Community Survey. To determine the fastest growing American cities, 24/7 Tempo ranked U.S. cities by their percentage population change from 2000 to 2018 using…»